projectcost
Project cost refers to the total sum of money required to complete a project. It encompasses all expenses incurred from the project's initiation to its closure. This includes direct costs, such as labor, materials, and equipment, as well as indirect costs like overhead, administrative expenses, and contingency funds. Effective project cost management is crucial for ensuring a project stays within budget, meets its financial objectives, and achieves its desired outcomes.
The process of determining project cost typically involves several steps. First, detailed requirements and scope are
Throughout the project lifecycle, costs are monitored and controlled. This involves tracking actual expenditures against the